Huada Auto completes asset purchase, share issuance

Huada Automotive Technology Corp (SSE:603358) has successfully completed its acquisition of Jiangsu Hengyi Industrial Technology Co., Ltd by issuing shares and paying cash, according to a legal opinion issued by Beijing King & Wood Mallesons. The transaction involved the issuance of 20,496,891 new shares at a price of 14.49 yuan per share. With the share issuance complete, the company's total share capital now stands at 459,536,891 shares. The newly issued shares were officially registered on March 18, 2025, and are slated for listing on the Shanghai Stock Exchange, subject to lock-up periods. Former shareholders of Jiangsu Hengyi also agreed to lock-up provisions.